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Brookside gets moving on second Oklahoma well

22 November 2021
ASX: BRK
Jack Baker

BRK has moved through a critical milestone positioning the company to begin production at Rangers Well. As the outlook for oil from its second well remains strong following the OPEC refusal to accelerate production. 

The energy explorer hit full-tilt production at its Jewell well earlier this month, and it has Rangers tabbed as its second major cash pipeline.  

Plans remain firm on developing more than 20 wells over five years in the Sooner State.  

The Perth-based company’s-controlled subsidiary, Black Mesa, will operate the site, and the company expects its majority working interest for the project to stand at over 80 per cent.  

Issued as a multi-unit horizontal sycamore well, Rangers has a total measured depth of around 17,750 feet and an average actual vertical depth of approximately 9300 feet.  

Preparation and planning continue ahead of the much-anticipated arrival of the Kenai 18 rig to the site. 

BRK’s Australian Stock Exchange-listed price has risen 4.76 per cent today, trading at 2.2c (10:37am UTC+8) 

COMPANY OVERVIEW

Brookside Energy Limited is an Australian publicly held company listed on the Australian Securities Exchange (ASX:BRK). The Company was reinstated to official quotation on the ASX on 5 August 2015, following completion of the Company’s recapitalisation. Brookside has established deep and valued relationships in the oil and gas sector over the last 10 years through its successful activities in the industry focused on the mid-continent region of the United States. Brookside’s goal is to build value per share through a disciplined portfolio approach to the acquisition and development of producing oil and gas assets and the leasing and development of acreage opportunities.

COMPANY INFORMATION

ASX: BRK

Website

https://brookside-energy.com.au/
https://www2.asx.com.au/markets/company/brk

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